Financial habits to form in 2016 - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Financial habits to form in 2016

MYRTLE BEACH, SC (WMBF) - Spending money is easy and saving money is hard, especially when you don't have a steady plan. Forbes.com has listed five powerful habits that you can form in the 2016 New Year. 

Automate: Financial experts recommend you automate your savings because it is so effective. Automating is hands off and you're less likely to tinker with your contributions.    

Check up on your credit: Get into the habit of checking your credit score. These credit scores are free once a year.  Making sure you have the credit score you deserve is a good way to double check that you haven’t been a victim of identity theft.

Talk about your financial life: Talking to others about your financial goals. Sharing this information with close friends and family can help you lead to better financial decisions. 

Track expenses: Monitoring expenses can help you get a better picture of where your money is going every month. If you don't like what you are seeing, you can make changes.

Remind yourself of your financial priorities: Spending less and saving more. Think about the financial freedom it will bring.  Set specific sub-goals like contributing the maximum annual amount to your Roth IRA and remember it will take time to accomplish lofty plans. 

For more information on how to better manage your money, visit Forbes.com

Copyright 2015 WMBF News. All rights reserved.

 

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